Memo

BILL NUMBER:S7131

TITLE OF BILL: An act to amend the real property tax law, in relation to limiting base proportion for the 2012-2013 assessment roll in the county of Suffolk

PURPOSE: To enact legislation which limits the amount of a property tax shift from one class of property to another for 2012-2013 due to large fluctuations in property values between property classes for the Town of Islip, which is the only approved assessing unit in the county of Suffolk.

SUMMARY OF PROVISIONS: This bill amends subparagraph (iv) of paragraph (a) of subdivision 3 of section 1903 of the real property tax law by extending for one year legislation which limits the amount of a property tax shift between classes of properties caused by large fluctuations in property values within classes.

JUSTIFICATION: In Suffolk County there is a large differential in property tax value increases between classes of property. This in turn causes a large property tax increase in one class of property. Presently, the amount of taxes which can be shifted from one class to another is generally capped at five percent, but for the 2005-2006, 2006-2007, 2007-2008 and the 2008-2009 tax rolls it was capped at 1 percent to protect against large property tax shifts. This legislation will extend the authority to cap the property tax shift at one percent for the 2012-2013 assessment roll. This extension makes sense as there was a discrepancy between the base proportions that were computed for the 2004 roll of an approved assessing unit in the County of Suffolk and the base proportions that would have been computed if the homestead base proportion exceeded the homestead adjusted base proportion of the immediately preceding year by two percent. This discrepancy was to be corrected so as not to create a large property tax increase. This legislation is once again necessary to extend the cap on property tax shifts to reflect such correction. This will create real property tax stability for another year for approved assessing units within the County of Suffolk.

LEGISLATIVE HISTORY: New legislation, 2012.

FISCAL IMPLICATIONS: There are no costs to the state or localities. This bill will allow for a more equitable distribution of real property taxes between classes of property.

EFFECTIVE DATE:

This act shall take effect immediately.

Text

STATE OF NEW YORK
________________________________________________________________________
7131
IN SENATE
April 30, 2012
___________

Introduced by Sen. ZELDIN -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
AN ACT to amend the real property tax law, in relation to limiting base
proportion for the 2012-2013 assessment roll in the county of Suffolk
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subparagraph (iv) of paragraph (a) of subdivision 3 of
section 1903 of the real property tax law, as amended by chapter 145 of
the laws of 2008, is amended to read as follows:
(iv) Notwithstanding any other provision of law, in an approved
assessing unit in the county of Suffolk and for current base proportions
to be determined by taxes based on such approved assessing unit's two
thousand three - two thousand four, two thousand four - two thousand
five and two thousand five - two thousand six assessment rolls, the
current base proportion of any class shall not exceed the adjusted base
proportion or adjusted proportion, whichever is appropriate, of the
immediately preceding year by more than two percent, or in the case of
the two thousand five--two thousand six, two thousand six--two thousand
seven, two thousand seven--two thousand eight [and], two thousand eight-
-two thousand nine AND TWO THOUSAND TWELVE--TWO THOUSAND THIRTEEN
assessment rolls, one percent. Where the computation of current base
proportions would otherwise produce such result, the current base
proportion of such class or classes shall be limited to such two percent
or one percent increase whichever is applicable, and the legislative
body of such approved assessing unit shall alter the current base
proportion of either class so that the sum of the current base
proportions equals one.
S 2. This act shall take effect immediately.

EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15590-01-2

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech;
or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation
is generally performed Monday through Friday.